Macau Casino Stocks Plunge Amid COVID Travel Restrictions

Posted by Ed 40 days ago

Travel restrictions across mainland China following the latest COVID-19 outbreak have likely dented Macau's gross gaming revenues (GGR) in August.

According to brokerage Bernstein, daily GGR plunged from an average of $16 million from Aug. 1-8 to $10 million over the past seven days, the lowest daily figure since September 2020.

Even though Macau, an autonomous region on the south coast of China, known for giant casinos, is reopened, visitation to the popular destination area from 6 to 12 August was 78% lower than in July. 

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